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Government to outlaw grandfathered commissions

Government to outlaw grandfathered commissions

by Shared by the ifa | Jul 30, 2019 | News

The ruling follows from a recommendation of the Hayne royal commission to end the payment of grandfathered commissions. Read more at the ifa.
Shedding clients grew a business sevenfold in 5 years

Shedding clients grew a business sevenfold in 5 years

by Shared by MyBusiness | Jul 30, 2019 | News

George Morice, accounting director at Prime Partners, said that his firm is specialising in accounting services for businesses, and through its services, a number of clients asked for “a deeper level of advice”. Read more at MyBusiness. 
Policy puts accountants in a difficult situation in Australia and the UK

Policy puts accountants in a difficult situation in Australia and the UK

by Maja Garaca Djurdjevic | Jul 30, 2019 | Podcasts

Post-election Australia is seeing a pick-up in business confidence, but the UK looks to be flatlining ahead of a Brexit outcome.  How are businesses at home circumventing the changing environment? Are businesses in the UK prepared for what’s to come?  Andrew and Phil...
Criminal penalties for cash payments planned for next year

Criminal penalties for cash payments planned for next year

by Maja Garaca Djurdjevic | Jul 30, 2019 | News

In order to combat the black economy, the government is introducing a $10,000 cash payment limit for transactions between businesses and individuals from next year. An exposure draft for the government’s crackdown on lost tax revenue outlines fines of over $25,000 and...
A $58k wedding, $20k for ‘raising twins’, beer and a Lego set among ‘weirdest’ claims ATO rejected

A $58k wedding, $20k for ‘raising twins’, beer and a Lego set among ‘weirdest’ claims ATO rejected

by Shared by The ABC | Jul 29, 2019 | News

Assistant commissioner Karen Foat said a recent review of claims had found, and disallowed, the bulk of the “very unusual expenses” claimed. Read more at the ABC. 
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